I'd definitely stay with the Yamalube oil. Different oils can definitely damage the cat/con, but I don't know about different fuel stabilizers. The problem is that certain oils (and possibly another brand of stabilizer) can form debris when they burn that clogs up the cat/con. If you had a 4 stroke and no cat/con to worry about, I'd say the Sta-bil would work just fine. But with the cat/con the best bet is to run non-ethanol containing fuels if they are available (then you can skip the stabilizer) and stay with Yamaha products for other things. Their products are the only ones that are formulated to run clean in their engines. I know it costs more and it is probably a ploy by Yamaha to force you to use their products, but you will probably save money in the long term. I use Yamaha Ring Free Plus fuel additive for my 4 stroke Yamaha ski and my boat outboard and I've noticed significantly longer plug life, and much cleaner pistons and rings.
Another thing that you might want to consider is getting rid of the cat/con altogether. You can replace it with a "D" plate..........that is exactly how Yamaha sells the machine to overseas customers that do not have the EPA regulations we have, so it doesn't affect the performance of the ski at all, and you don't have to worry about the cat/con failing down the road.
My top 3 choices for rust inhibitors in order:
Fluid Film
Corrosion X
CRC 656
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2008 Yamaha FX HO Cruiser
2010 Hurricane Sundeck 2100
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